Our four senior class sponsors gave us much advise Mrs. Davis, Mrs. Broome, Mr. Moore and Mr. Henderson were wise Less than 100 were in my graduating class I remember paying five dollars for a tank of gas

The years that have rolled by since that graduation night Have flown away like a March wind blown kite O that I could turn back hands of time When I was a senior and a coke cost a dime.

Copyright 2005 Irvin L. Rozier, Class of 1970

7. Rates for federal Stafford loans, most prevalent type of student loan, as well as some other types of federal student loans are set annually based on rate of 91-day U.S. Treasury bills at end of May. The exact rate won't be known until end of month, but experts say it will be about 2 percentage points higher. (Private loans and federal loans cannot be consolidated together.)

8. For first time, U.S. Department of Education will allow students still in school to consolidate federally backed loans. Federal PLUS loans can also be consolidated. PLUS loans are used to help pay cost higher education.

9. Students, regardless of enrollment, should absolutely consolidate their college loans, arranged through student's lender. There are no fees, no credit checks, and interest rates are expected to move higher. Those are good reasons to consolidate.

10. Act quickly to put lock on current federal-aid interest rates. Graduates should act now to insulate themselves from a drastic rate change. Apply early. Do not wait until last minute to file paperwork. Those who have already graduated or left school should not wait to investigate consolidation. In first six months after graduation, you are in a grace period. Within that six-month window, you can lock in a low rate on Stafford loans and spread repayment over as long as 30 years. If you're going to consolidate, now is best time to do it.